German Ocean News

German ocean carrier Hapag-Lloyd expects solid growth in 2019, according to the annual report for 2018 in which the the international container shipping line reports improved earnings.Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd said: "While our business is and will remain cyclical, market conditions have gradually improved for liner shipping companies over the last few years. Our course for the next few years is set and our objectives for 2019 are clear: Improve earnings, further reduce our debt and continue to implement our Strategy 2023 – all aimed at creating more value for our customers and for our shareholders as we strive to become number one for quality.”In its most recent economic outlook for the year 2019…

The the first half year 2018 net loss of Germany's Hapag-Lloyd is more than doubled to UER 100.9 million ($116 million) from EUR 42.7 million (USD 49 million) a year ago.The shipper attributed this loss to rising fuel costs and the slow recovery in freight rates diluted the synergies from the German ocean carrier’s merger with United Arab Shipping Company."The first half of 2018 was shaped by clearly increasing fuel costs, higher charter rates and a slower than expected recovery of freight rates. In response to that, we have implemented additional measures to recover these costs: we are critically reviewing the economic viability of our ship systems and are further optimising our terminal contracts…

German ocean carrier Hapag-Lloyd aims to launch preparations for an initial public offering (IPO) in September, which is sooner than it originally planned, as a result of strong financial results, says Reuters. Hapag-Lloyd’s solid second quarter financial performance, results of which will be published this month, has given senior management confidence to push ahead with listing plans earlier than planned. The Hamburg-based company has already picked Deutsche Bank, Goldman Sachs and Berenberg to lead the transaction, Reuters reported previously. The IPO could raise more than $5.5bn, according to reports from earlier this year. There have been talks of a potential IPO of Hapag-Lloyd around the turn of the year…

Hamburg is the first German port achieving for the first time the magical 500 000 passenger mark in a single season. New facilities plan to open by June 2015, which will handle 6,000 to 8,000 passengers during a full 10-hour turnaround. Cruise industry generates huge economic impact for the port and destination and brings ecological responsibilities. Miami. The 2013 Hamburg cruising season came to an end on New Year’s eve, with the 2014 season commencing just 8 days later with the arrival of the ‘Queen Elizabeth’ on 8 January.

The Hamburg Cruise Port said it reached the 500,000 passenger mark in a single season. The port anticipates further growth forecast for 2014, with the 200th ship in sight. “The visit by the Queen Mary 2 to Hamburg on November6, 2013 will go down in the annals of Hamburg’s cruise industry and become an unforgettable ship’s call for everyone concerned,” said Frank Horch, Senator of the Ministry for Economic, Transport and Innovation Affairs. The visit was not only the 168th call of the current season but also marked the arrival of the 500,000th cruise guest in the city.